Bitcoin - Final pump to 32k before a crash to 15k!
- Bitcoin may be ready for a final impulse wave to the upside before it collapses to 15k!
- On the chart, we can see an ending diagonal wedge pattern (3-3-3-3-3), which is why we could finish it at around 32k-33k.
- This will be your lifetime opportunity to short Bitcoin and ride the massive bear market that will follow!
- Do not buy any altcoins or Ethereum because it's totally dead and only Bitcoin may pump to new highs.
- The 0.382 FIB extension is right above the previous wave 3. This is a very strong level because it's the inverse of the 0.618 FIB, and usually Bitcoin reacts to it.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- I am of course very bearish for Q3 2023 and Q4 2023. As you know, I expect a big crash to 15k, but this could be the final uptrend to 32k.
- Right now I am out of the market and do not have any open positions, but I am going to open a short at the top of the wedge / 0.382 FIB extension. I am already prepared for the bear market, so it is better to stay in USDT, sell spot positions, and trade futures.
- If you think this is a reasonable Elliott Wave count, you can go to intraday charts and find some longs. Also, if you are already in a short position on futures, you can open a temporary hedge to protect yourself from this final wave.
- I do not trust this pump from 19k, because it shows a lot of signs of weakness, such as ABC waves.
- This analysis is my bullish scenario because I have always prepared bearish and bullish scenarios. Take my Elliott Wave count into consideration for your trading.
- Thank you, and for more ideas, hit "Like" and "Follow"!
Comment:
On the weekly chart, if we take a look at the previous price action, we can see a very clear level where traders have their stop losses. I will not be surprised if we see one last fake pump to the upside and then a big crash.
